The appeal on the Bitcoin And on the cryptocurrency market in general, after a phase of profound correction experimented for the end of February. The best known cryptocurrency has catapulted again Above the 100,000 threshold dollars, reaching the highest level since February, even if it is still under the historical maximum 109 thousand dollars touched in late January, immediately after the settlement of President Donald Trump.
Bitcoin in comeback with his sisters
The best known cryptocurrency, the Bitcoinexchanges this morning a 102,904 dollars, up 4.2% Compared to the eve, for a market capitalization of 2.04 trillions of dollars. Since the beginning of the year, Bitcoin maintains a rise of about 10%, but in the last month he recovered 29% after the heavy correction started at the end of February.
They are advancing that the other cryptocurrencies, a symptom of a return of appeal of this asset class: Ether advances more than 16% to $ 2,211, Solana of over 8% to 162.59, Dogecoin 8.5% to 0.195 e Cardano 8.8% to 0.7609. Well too XRP (+5.3%) e Binance (+2.39%).
The softest line of Trump and the prudence of Powell
To feed the surge of cryptocurrencies and bitcoins in particular, the Soft line of Trump on the trade front. The US president yesterday, after announced a “historical” agreement between the United States and the United Kingdom on trade, said it was convinced that an agreement can also be found with the EU.
But in support of the Crypto there is also monetary policy: the decision of the FOMCwho left interest rates still still, and the Powell Presidentwho confirmed that There is no hurry to cut the ratesmoving a possible intervention towards the month of July.
An “alternative” asset useful in a phase of uncertainty
Uncertainty which characterizes the economic and financial scenario was the main growth engine of Bitcoin, which was soon established as “alternative” asset to the dollar and to the dollar area, which discount a pro-inflationary economic policy of the Trump administration and an increase in the deficit and the US debt.
The complicity of the president towards the Crypto market
To support the Crypto market then contributes The favor of favor that Trumpin the second term, he reserved for this asset class, which he has supported since the election campaign, also favoring Approval and launch D ETF and therefore an increase in the flows of this market. It certainly remains much to be defined at the level of legislation, to definitively allocate the Crypto market to traditional finance and encourage a further increase in trading volumes.
Where bitcoin can arrive
One wonders if Bitcoin will be able to update its historical maximum, reached at the end of January, and aim for other goals. In this regard, Simon PetersCrypto Markets Analyst by eToro, remember that the threshold of 100 thousand dollars has so far represented a level of rather important resistance whose approach and overcoming rejected the price of the cryptocurrency in recent months.
At present, the expert reports that the index of fear and greed of cryptocurrencies, which measures the current sentiment, And just above the threshold of neutrality. This indicates that the market is not yet in hyper -pouring and therefore still has space for a potential ascent. In fact, the major Sell-off on Bitcoin occur when the prevalent sentiment is greed.
Furthermore, the Institutional inflows On Bitcoin, measured by Etf Spots, in the last week they have been higher than averagegiving a sign of confidence in cryptocurrency markets right now.
